Filed under: Before the bell, Analyst upgrades and downgrades, Deals, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Delta Air Lines (DAL)
After pressuring Yahoo! Inc. (NASDAQ: YHOO)’s board over the weekend, threatening it with a proxy fight and a lower offer, the portal company has finally responded to Microsoft (NASDAQ: MSFT)’s constant digs. Yahoo! stated Monday it doesn’t oppose a deal with the giant software maker but wants a better deal than the current $41 billion cash-and-stock offer. The deal was worth more originally, but has declined in value due to Microsoft’s shares decreasing in value. As of 7:47 a.m., YHOO stock is down over 2.3% while MSFT stock is up over 1.3%.
Apple Inc. (NASDAQ: AAPL) was upgraded by Thomas Weisel from Market Weight to Overweight and the price target was upped from $188 to $195.
Also, T-Mobile has slashed the price of the basic 8 gigabyte iPhone in Germany to 99 euros ($155) from 399 euros, perhaps trying to get rid of this model ahead of the expected launch of a new third-generation model at the end of June. The 16 gigabyte version will continue to cost 499 euros.
Delta Air Lines (NYSE: DAL) and Northwest Airlines (NYSE: NWA) are reported by the Financial Times to have revived merger talks. Following the bankruptcies of Aloha Airgroup, ATA Airlines and SkyBus, it only makes sense the airlines would resume talks. Shares of Delta are up 5.7% in premarket trading.
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